"We've noted this once before but now it is picking up some momentum. Look for the Washington Redskins, within the next month, to make another foray toward signing cornerback Champ Bailey to a contract extension. If the move fails, the Redskins will use the "franchise" designation on Bailey, now in the final year of his contract, next spring"

either way I think the Skins win here....anyone know how the average salary of the top 5 corners in the league compares to Champ's refused deal?

Not sure what this means... you have to pay a player the average top 5 salary, but whether it's in signing bonus or guaranteed contract or what combination of the two is up to the team and player.

here's more on franchise players directly from the player's collective bargaining agreement...

After the 1993 League Year, any Club that designates a Franchise Player shall on the date the designation is made notify the player and the NFLPA which one of the following two potential required tenders the Club has selected:

(i) A one year NFL Player Contract for the average of the five largest Prior Year Salaries for players at the position at which the Franchise Player played the most games during the prior League Year, or 120% of his Prior Year Salary, whichever is greater; if the Club extends the tender pursuant to this Subsection (c)(i), the player shall be permitted to negotiate a Player Contract with any Club as if he were a player subject to Section 5 below, except that Draft Choice Compensation of two first round draft selections shall be made with respect to such player in the event he signs with the New Club, and the Signing Period for such player shall be determined under Section 17 below; or

(ii) A one year NFL Player Contract for (1) the average of the five largest Salaries in Player Contracts for that League Year as of the end of the Restricted Free Agent Signing Period that League Year, as set forth in Article XIX (Veteran Free Agency), Section 2(h), for players at the position at which he played the most games during the prior League Year, or (2) the amount of the required tender under subsection (c)(i) above, whichever is greater.

(iii) Beginning in the 1999 League Year, if a player subject to a Franchise Player designation accepts the Required Tender, the resulting Player Contract shall be fully guaranteed if the player’s contract is terminated because of lack of comparative skill; as a result of an injury sustained in the performance of his services under his Player Contract; and/or due to a Club’s determination to create Room for Salary Cap purposes. For purposes of this paragraph only, any contract termination due to the failure of the player to establish or maintain his excellent physical condition will be subject to review of a neutral physician appointed by the parties under Article X (Injury Grievance), whose physical findings will be conclusive in any arbitration proceeding relating to the physical condition of the player at the time of the exam, providing such exam takes place within twenty (20) days of the contract termination.

I look at Champ and the money that he will undoubtedly demand and I just wonder how better that money could be used. It is sort of the same situation that we will had with Stephen Davis last season. Pay his hefty salary or parlay it into more players like we did this season. It is a hard choice but I say use the money to fill the holes on the d-line.